According to recent data from the Kenya National Bureau of Statistics (KNBS), the inflation rate in Kenya increased to 5.1 percent in May, up from 5.0 percent recorded in April 2024.
KNBS attributed the unprecedented spike to higher food, transport, and energy costs.
“The annual headline inflation rate as measured by the Consumer Price Index (CPI) increased to 5.1 per cent, in May 2024 from 5.0 per cent in April 2024. The price increase was mainly driven by rise in prices of commodities under Transport ,Food and Non-Alcoholic Beverages,Housing, Water, Electricity, Gas and other fuels between May 2023 and May 2024.”
KNBS said the general price level in May 2024 was 5.1 percent higher than in May 2023.
“The index increased from 138.40 in April 2024 to 139.85 in May 2024 attributing to monthly inflation of 1.0 per cent.”
The report indicated that the Food, non-food items, and fuel prices index increased by 6.2 percent, 3.4 percent, and 7.8 percent since May 2023.
Basic food items, including onions, tomatoes, and Sukuma Wiki, saw prices hike by 67.7 percent,29.7 percent, and 27.7 percent, respectively, while sifted Maize flour prices increased by 28.1 percent.
Other common food commodity prices that recorded a hike include sugar and White wheat flour which increased by 11.1 and 8.2 percent respectively.
The cost of 50 Kilowatts and 200 Kilowatts electricity prices also hiked by 7.3 and 4.6 percent since May last year.
Additionally, Diesel, petrol, and Kerosene costs increased by 6.4 percent, 5.5 percent, and 4.7 percent, respectively.
